Iraq Economic News And Points To Ponder Tuesday Afternoon 4-14-26
Iraq Lifts Basrah Medium Nearly $2 For Asia As Oil Hits $119
2026-04-14 Shafaq News- Baghdad Iraq on Tuesday raised the official selling price of Basrah Medium crude bound for Asia, its largest market accounting for about 70% of exports, by around $1.70 per barrel, as global oil prices surge.
Oil markets have risen amid the US-Israeli war on Iran and disruptions to shipments through the Strait of Hormuz following Tehran’s closure of the waterway, tightening global supply and pushing prices higher. Basrah Medium itself was trading near $119 per barrel.
OPEC data showed the crude’s average price jumped to $117.62 per barrel in March 2026 from $66.77 in February, an increase of $50.85 in a single month. The average price has reached $82.70 per barrel so far in 2026, compared with $75.88 in 2025, indicating a sustained upward trend in Iraqi crude prices.
OPEC’s reference basket also rose to about $107 per barrel in March from $67.19 in February, with Iraqi crude ranking among the higher-priced grades alongside Kuwait and Iran.
https://www.shafaq.com/en/Economy/Iraq-lifts-Basrah-Medium-nearly-2-for-Asia-as-oil-hits-119
Dollar eases at Tuesday's close in Baghdad and Erbil
2026-04-14 Shafaq News- Baghdad/ Erbil The US dollar fell against the Iraqi dinar at Tuesday's closing in Baghdad and Erbil, according to Shafaq News correspondent.
At Al-Kifah and Al-Harithiya exchanges in Baghdad, the dollar closed at 153,500 IQD per $100, down from 153,700 IQD recorded at the morning session.
In local exchange shops across Baghdad, the selling price reached 154,000 IQD per $100, while the buying price stood at 153,000 IQD.
In Erbil, the dollar also declined, with a selling price of 153,550 IQD per $100 and a buying price of 153,400 IQD per $100. https://www.shafaq.com/en/Economy/Dollar-eases-at-Tuesday-s-close-in-Baghdad-and-Erbilb
Syrian-Iraqi Understanding On Energy And Trade
2026-04-14 Shafaq News- Washington Syria and Iraq have reached a set of new economic understandings, with plans to advance energy cooperation and facilitate bilateral trade, Syria’s Finance Minister Yisr Barnieh said on Tuesday, describing the communication with the Iraqi government as continuous and constructive.
Speaking to Shafaq News on the sidelines of the World Bank Spring Meetings in Washington, Barnieh added that developments in this “vital issue” are expected soon. He said Syria’s new government is prioritizing the removal of obstacles to trade and investment, stressing official efforts to strengthen ties between business sectors in both countries and restore economic relations to a strategic level.
On international engagements in Washington, Barnieh pointed to progress at the World Bank, where an agreement was reached on a “special annex” to support Syria’s financial sector and reform its financial institutions. The initiative aims to build human capacity, enhance sustainability, and advance digital transformation across Syria’s financial system.
He also confirmed efforts to establish a global “knowledge center” to help Syrian investors form effective partnerships between the public and private sectors.
Earlier, Central Bank of Syria Governor Abdul Qader Hasriya told Shafaq News that steps are underway to enhance financial cooperation with Baghdad, clarifying that ongoing communication with the Central Bank of Iraq includes plans to organize joint economic activities aimed at strengthening banking ties between the two countries.
https://www.shafaq.com/en/Economy/Syrian-Iraqi-understanding-on-energy-and-trade
Iraq Taps Najaf ‘White Gold’ To Unlock Billion-Dollar Mining Potential
2026-04-14 Shafaq News- Najaf Iraq is positioning Najaf as a key mining investment hub, highlighting high-purity silica sand –known as “white gold”– as a strategic resource, the Iraqi Geological Survey said on Tuesday.
Silica reserves in Iraq are estimated at around 350 million tons, with projections reaching up to 1 billion tons across Najaf and Al-Anbar, according to official and expert assessments. The resource is critical for solar panels, semiconductors, and fiber optics, placing Iraq within global supply chains for clean energy and advanced technology.
The Geological Survey revealed that it is expanding mining investment under existing laws to support industrial development and diversify revenues, citing Najaf’s geological and industrial potential. The province also holds deposits of limestone used in cement and construction, as well as quartz and industrial sands used in glass and ceramics.
The sector could generate billions of dollars and create more than 10,000 jobs, it added, as the global silica market is projected to reach $85.86 billion by 2033. Iraq also holds major reserves of other minerals, including sulfur, phosphate, and limestone.
US Offers A $10 Million Reward For Information On Kataib Hezbollah’s Al-Hamidawi
2026-04-14 Shafaq News- Washington The United States Department of State announced on Tuesday a reward of up to $10 million for information on Ahmad al-Hamidawi, the leader of Iraq’s Kataib Hezbollah.
In a statement, the State Department’s Rewards for Justice program accused Al-hamidawi of directing attacks against US diplomatic facilities in March 2026, adding that the group has, over several years, repeatedly targeted US personnel and facilities in Iraq using improvised explosive devices, rockets, and drone systems, and has been involved in the abduction of US citizens and the killing of Iraqi civilians.
According to the program, Al-Hamidawi received political, military, and intelligence training from Iran’s Islamic Revolutionary Guard Corps (IRGC), and he currently serves as secretary-general of Kataib Hezbollah and is a member of its “Shura Council” (The group of decision makers in the Kataib).
The statement noted that al-Hamidawi has played a central role in planning attacks against US and Iraqi security forces since 2007, and that he continues to incite violence through public protests and attacks targeting the US embassy in Iraq.
Earlier on February 26, 2020, the US State Department designated Al-Hamidawi as a Specially Designated Global Terrorist under Executive Order 13224, as amended. The designation led to the freezing of any assets he holds in the United States or under the control of US persons, and prohibits US individuals from engaging in transactions with him.
Kataib Hezbollah was designated as a foreign terrorist organization on June 24, 2009, under Section 219 of the US Immigration and Nationality Act. The designation bars US citizens from providing material support to the group and freezes its assets under US jurisdiction.
The statement also added that Kataib Hezbollah members have received training, weapons, and other support from Iran’s Quds Force and Lebanon’s Hezbollah, both of which are also designated by the United States as foreign terrorist organizations.
It further said the group operates closely with the IRGC’s Quds Force and follows directives from Iran’s Supreme Leader. “Kataib Hezbollah has carried out attacks aimed at expelling US and coalition forces from Iraq and promoting Iranian influence in the region,” the statement added.
The program also referred to a December 27, 2019, rocket attack by the group on an Iraqi military base near Kirkuk that killed a US civilian contractor, Nawres Hamid, and wounded several US and Iraqi personnel. It added that between December 27, 2019, and January 1, 2020, Kataib Hezbollah led protests outside the US embassy in Baghdad, during which demonstrators attempted to breach the compound.